Sectoral Foresight:
An exercise with a sectoral focus looks at future developments within a specific industry, such as the chemical industry or the aerospace sector.
Sponsor:
A sponsor or client is a body (either institutional or corporate) which provides the financial support for the Foresight exercise, or provides other types of resources (such as the workforce). The sponsor may also be the initiator of the exercise and is also likely to be among the users of the output(s). Its wishes, requirements and expectations are shaping factors for the exercise. Adequate communication between the project coordinator, the project team and the sponsor(s) is essential for the success of the undertaking.
Stakeholder:
A stakeholder is anybody with an interest or stake in what an organization does. In the case of a Foresight exercise, this includes all the participants in the exercise and anyone else who may have an interest in, or be affected by, the outcome. Originally a stakeholder was a person who holds money or other property while its owner is being determined. The situation often arises when two persons bet on the outcome of a future event and have a third person act as the stakeholder, holding the money (or "stake[s]") they have both wagered (or "staked") until the event occurs. In the last decades of the 20th century, the word "stakeholder" has evolved into a term of art in the field of business management in general, and Foresight in particular. In discussing the decision-making process for institutions -- including corporations, government agencies and non-profit organizations -- the concept has been broadened to include everyone with an interest (or "stake") in what the entity does. That includes not only its vendors, employees, and customers, but also members of the community where its offices or factory may affect the local economy or environment.
